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The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge. Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata...

The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge. Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish. Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.

Boomerang的话题 · · · · · ·
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Just finished reading Michael Lewis’s Boomerang, a book about the aftermath of the economic crysis based on the author’s trips to Iceland, Greek, Ireland, Germany and… California. Just like many of Michael’s books before this one, it’s a very interesti...
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The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

2017-02-16 13:131人喜欢

The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks,...

2017-02-16 13:05

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks, so the Irish banks can repay their loans to the German banks. "They are playing billiards, " says Enderlein. "The easier way to do it would be to give German money to the German banks and let the Irish banks fail." Why they don't simply do this is a question worth trying to answer.

The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

2017-02-16 13:131人喜欢

The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks,...

2017-02-16 13:05

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks, so the Irish banks can repay their loans to the German banks. "They are playing billiards, " says Enderlein. "The easier way to do it would be to give German money to the German banks and let the Irish banks fail." Why they don't simply do this is a question worth trying to answer.

The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

2017-02-16 13:131人喜欢

The interesting thing, said the German financier...is the glass room at the top (of the Commerzbank HQ building), from which one looks down over Frankfurt.It is a men's toilet. Commerzbank executives had taken him there to show him how, in full view of the world below, he could shit on Deutsche Bank.

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks,...

2017-02-16 13:05

Indeed, one view of the European debt crisis--the Greek street view--is that it is an elaborate attempt by the German government on behalf its banks to get their money back without calling attention to what they are up to. The German government gives money to the European Union rescue fund so that it can give money to the Irish government so that the Irish government can give money to Irish banks, so the Irish banks can repay their loans to the German banks. "They are playing billiards, " says Enderlein. "The easier way to do it would be to give German money to the German banks and let the Irish banks fail." Why they don't simply do this is a question worth trying to answer.